Cannabis Stocks Are Hot Ahead of a House Panel Hearing on a Federal Legalization Bill

, D-Ore., have sponsored the Cannabis Administration and Opportunity Act , which is among several marijuana bills floating around.CEO David Klein said federal legalization would be transformative for the Canada-based company in the eyes of investors. Canopy bought MSO Acreage for $3.4 billion in 2019, it sells the Martha Stewart's CBD line in the U.S.. and it acquired U.S. cannabis edible brand WanaCanopy shares have gained roughly 13% in the past month.

"For us, it would allow us to bring businesses like Wana and Acreage into our [profit and loss] and run it more like a consolidated enterprise, which would be super exciting for our investors. It would also show we already have a good mature, growing U.S. multistate presence," Klein told CNBC., the spirits and beer giant, owns a 36% stake in Canopy. Stifel analyst Andrew Carter has forecasted that higher margin drinkable cannabis would see accelerated growth in 2022.

"We've always been really bullish on drinks," Klein said."We are seeing that new consumers coming into the category like to enter the category through edibles and drinks. We think that as more people come into the category, the new comers to the category, will over index in edibles and drinks." According to a note Tuesday from Bank of America, Schumer's CAOA bill is expected to be introduced in the Senate by late April.

Industry analysts generally see a murky path forward for all of the cannabis reform bills on Capitol Hill, but but they feel that meaningful steps towards legalization are expected to continue to spark interest in cannabis stocks.

Hot? How they hot

Cool but it won’t pass

You will have to release a lot of people from prisons.

Once pot is legal there will be more people with pot plants in their backyards than tomato plants.

Is this good

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